Jefferies Group LLC reaffirmed their buy rating on shares of Ball Corporation (NYSE:BLL) in a research note issued to investors on Sunday. They currently have a $47.00 price target on the industrial products company’s stock.
Other equities analysts have also recently issued reports about the stock. TheStreet raised shares of Ball Corporation from a c+ rating to a b rating in a research note on Thursday, May 4th. ValuEngine cut shares of Ball Corporation from a buy rating to a hold rating in a research note on Friday, June 2nd. Vertical Research cut shares of Ball Corporation from a buy rating to a hold rating and set a $41.50 target price for the company. in a research note on Friday, May 5th. BMO Capital Markets reaffirmed a hold rating and set a $39.50 target price on shares of Ball Corporation in a research note on Wednesday, April 12th. Finally, Zacks Investment Research raised shares of Ball Corporation from a sell rating to a hold rating in a research note on Monday, May 8th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Ball Corporation currently has an average rating of Hold and a consensus price target of $42.18.
Shares of Ball Corporation (NYSE:BLL) traded up 0.96% on Friday, reaching $42.07. 5,109,925 shares of the company traded hands. The firm has a market capitalization of $14.77 billion, a P/E ratio of 31.30 and a beta of 0.95. The stock has a 50-day moving average price of $52.97 and a 200 day moving average price of $69.09. Ball Corporation has a 1-year low of $33.76 and a 1-year high of $42.30.
Ball Corporation (NYSE:BLL) last posted its earnings results on Thursday, May 4th. The industrial products company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.04. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Ball Corporation had a net margin of 4.59% and a return on equity of 16.46%. Ball Corporation’s quarterly revenue was up 40.8% on a year-over-year basis. During the same period last year, the company posted $0.30 earnings per share. Analysts anticipate that Ball Corporation will post $2.15 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, May 30th. This is a boost from Ball Corporation’s previous quarterly dividend of $0.07. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.95%. Ball Corporation’s payout ratio is currently 26.67%.
In related news, COO Daniel William Fisher sold 1,750 shares of Ball Corporation stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $41.77, for a total transaction of $73,097.50. Following the completion of the transaction, the chief operating officer now directly owns 11,594 shares of the company’s stock, valued at approximately $484,281.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Lisa Ann Pauley sold 20,960 shares of Ball Corporation stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $41.48, for a total transaction of $869,420.80. Following the transaction, the senior vice president now directly owns 108,887 shares of the company’s stock, valued at $4,516,632.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,702 shares of company stock valued at $3,261,845. 2.70% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in BLL. Russell Investments Group Ltd. purchased a new position in Ball Corporation during the fourth quarter worth approximately $2,579,000. Bessemer Group Inc. boosted its position in Ball Corporation by 35.7% in the fourth quarter. Bessemer Group Inc. now owns 1,385 shares of the industrial products company’s stock worth $104,000 after buying an additional 364 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Ball Corporation by 0.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,021 shares of the industrial products company’s stock worth $752,000 after buying an additional 70 shares in the last quarter. Credit Agricole S A boosted its position in Ball Corporation by 10.1% in the fourth quarter. Credit Agricole S A now owns 87,883 shares of the industrial products company’s stock worth $6,599,000 after buying an additional 8,073 shares in the last quarter. Finally, Tyers Asset Management LLC purchased a new position in Ball Corporation during the fourth quarter worth approximately $262,000. 43.30% of the stock is owned by hedge funds and other institutional investors.
About Ball Corporation
Ball Corporation is a supplier of metal packaging to the beverage, food, personal care and household products industries. The Company’s packaging products are produced for a range of end uses and are manufactured in facilities around the world. Its segments include beverage packaging, North and Central America; beverage packaging, South America; beverage packaging, Europe; food and aerosol packaging; aerospace, and other.
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